The Truist Foundation Inspire Awards invite nonprofit organizations to apply for funding aimed at enhancing economic mobility and worker well-being. The awards are designed to support innovative solutions that provide comprehensive career navigation resources for adults, particularly those in the middle or late stages of their careers. The initiative recognizes the challenges faced by low-wage earners and the need for effective support systems to assist unemployed and underemployed individuals. The awards will provide financial support ranging from $10,000 to $75,000, with a total of 15 semifinalists receiving $10,000 each and additional funding opportunities for finalists.

The primary purpose of the Inspire Awards is to identify and support nonprofit organizations that can deliver impactful resources and services to adults seeking career advancement. The objectives include providing wraparound services such as transportation, childcare, and mental health support, fostering coalition building among various stakeholders, facilitating career navigation, and offering upskilling and reskilling opportunities. The awards aim to empower organizations that can effectively address the unique challenges faced by workers in today's economy.

Funding through the Inspire Awards will be allocated to support a range of initiatives. Semifinalists will each receive $10,000, while finalists will have the opportunity to compete for larger awards, including a $250,000 first place award, a $150,000 second place award, and four $25,000 runner-up awards. Additionally, there is a $75,000 Audience Favorite award available to one finalist, regardless of their placement in the competition. This funding is intended to help organizations implement their proposed solutions and expand their reach within the communities they serve.

Eligibility for the Inspire Awards is limited to nonprofit organizations that hold a registered 501(c)(3) status with the IRS and are headquartered in the United States. Organizations must serve areas within the Truist footprint, which includes selected states such as Alabama, Florida, Georgia, and Virginia, among others. Applicants should be at least at the Growth Stage of Development, indicating they have an established product or service, and their proposed solution should be at least at the Concept Stage of Development. The Team Lead for the application must be 18 years or older and hold a key leadership position within the organization.

Submission requirements include a detailed application that outlines the proposed solution and its potential impact. Organizations applying for the Coalition Building Dimension must be Growth Stage organizations serving as anchor partners. The application process will require the Team Lead to present the solution to an Advisory Council if selected as a semifinalist, and finalists will participate in a support program.

Evaluation criteria for the Inspire Awards will focus on the innovation and feasibility of the proposed solutions, the organization's capacity to implement the project, and the potential for collaboration across sectors. The timeline for the application process includes a deadline for submissions on January 8, 2025. Organizations interested in applying should ensure they meet all eligibility requirements and prepare their applications accordingly.

Important dates to note include the application deadline of January 8, 2025, with further details available on the MIT Solve website. Organizations are encouraged to review the eligibility criteria and prepare their proposals in advance to maximize their chances of receiving funding through this initiative.